They plan to bring the real estate market out of the shadows. Professionals will be required to undergo certification.

On November 8, a new law "On Real Estate Activity" comes into force in Uzbekistan, designed to bring the real estate market out of the shadows. Adopted on August 7, the law abolishes the licensing system and introduces mandatory qualification certification for specialists. The changes were initiated by the UzLiDeP party, which organized an open discussion of the law in Tashkent with representatives of ministries, agencies, and market participants.

On August 21, a detailed explanation of the new law's provisions was held in Tashkent. Representatives of the Oliy Majlis, the UzLiDeP party, the Ministry of Justice, the State Assets Management Agency, the Cadastral Agency, the Chamber of Realtors, as well as agency heads and professional specialists, participated in the discussion.

The key change is the abolition of licensing and the transition to qualification certification. To obtain certification, realtors will need to undergo special training and pass an exam. Afterwards, their information will be entered into the Unified Register. A realtor can only operate as part of a real estate organization and with a valid certificate. The registry will contain information about both companies and their employees, allowing citizens to verify the credentials of specialists.

A representative of the State Assets Management Agency noted that previously, legislation lacked a clear definition of a "real estate agent" and mechanisms for verifying them. Now, any request regarding an individual not registered in the Unified Registry will trigger an investigation and appropriate action.

The law also clearly defines the range of real estate services, including brokerage in real estate transactions, auction organization, trust management, as well as consulting and advertising services. Special rules have been established for trust management: only legal entities with at least two certified specialists on staff can provide this service.

The meeting focused on the issue of unofficial work. Currently, just over 300 realtors are officially registered in the country, while unofficial estimates and analysis of social media activity indicate that between 5,000 and 10,000 people, primarily in Tashkent and Samarkand, provide real estate services without official status. Legalizing these intermediaries is identified as one of the main objectives of the reform.

Existing realtors must be certified by November 8, as working without a certificate and registration in the registry will be prohibited after this date. The launch of a multi-listing system is planned for the future, which will provide a one-stop shop and electronic data exchange with cadastral and tax authorities. Due to the large number of questions from market participants, discussions on the practical application of the new law will continue.

The organizers emphasized that clarification of the new rules for realtors will continue as questions are received from market participants.